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Consumer Contracts – Financial Support
Debt, Hardship and Uncertainty: COVID-19 and its Implications for Lending and Borrowing Arrangements The impacts of COVID-19 have been far-reaching, affecting the economy in a variety of ways.
Redundancies in the Post COVID-19 Economy
The COVID-19 global pandemic has forced businesses to make unprecedented changes to adjust and survive. The new business landscape emerging in the post COVID-19 economy signals that changes to staffing structures are likely to be common.
Penalty Clauses Clarified
It is common for commercial agreements to include a clause setting out some form of consequence if a breach occurs.
Wage Subsidy Extension Update
On 14 May 2020 the government announced that the Wage Subsidy Scheme would be extended. The Wage Subsidy Extension payments will be available from 10 June 2020 until 1 September 2020.
Alert Level 1
At midnight on 9 June 2020 New Zealand moved to Alert Level 1. The restrictions of Alert Level 2 have been lifted, though strict border controls remain.
Changes to Property Tax Exemptions slipped in latest Tax Bill
The Taxation (Annual Rates for 2020-21, Feasibility Expenditure, and Remedial Matters) Bill was introduced to Parliament on 4 June. The Honourable Stuart Nash said this legislation was to “support growth and assist businesses on the road to economic recovery.